MMEX Resources turns to solar power for Texas refinery

Solar panels. Author: John S. Quarterman. License: Creative Commons, Attribution 2.0 Generic.

July 10 (Renewables Now) - US firm MMEX Resources Corp (OTCMKTS:MMEX), which is focused on oil, gas, refining and infrastructure projects in Texas and South America, may install up to 100 MW of solar photovoltaic (PV) capacity to power a refinery complex in Texas.

The company said on Monday it will start with a 1-MW solar project near its 10,000 barrel-per-day (bpd) crude distillation unit (CDU) in Pecos County, but it is engaged in preliminary discussions to lease additional acreage for 75 MW to 100 MW of solar panels.

MMEX has created a solar power subsidiary, MMEX Solar Resources, for the project.

The CDU phase 1 will require about 2 MW of power, while the next phase of the crude oil refinery project will require 35 MW to 50 MW of power generation capacity. MMEX’s plan is to sell to the grid any extra solar power it produces.

Jack Hanks, CEO of the development-stage company, said that Pecos County and the Permian Basin in general “have great metrics for solar power” and there are other projects in the region. In June, American Electric Power Co (NYSE:AEP) and the Lower Colorado River Authority (LCRA) have announced plans for a new double-circuit 345-kV transmission line in Pecos County to address the rise in generation interconnection requests and increase in electrical demand by the oil and gas industry in the Far West Texas area. The proposed transmission line will also ensure additional capacity for renewable power generation resources in the area.

MMEX acquires, develops and finances of oil, gas, refining and electric power projects in Texas, Peru, and other countries in Latin America.

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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